869 Turf Farm RdPayson, UT 84651

Property Details for 869 Turf Farm Rd

Year built

2014

Lot size

0.49 AC

Property size (Sq ft)

3,477 SF

Property type

Retail properties

Property subtype

Drug stores

APN

49-771-0002

APU

497710002

Description

This exceptional Payson, UT retail property, encompassing parcels 869 and 871 Turf Farm, presents a lucrative investment opportunity. The 0.49-acre site boasts a prime location surrounded by other retail businesses, ensuring high visibility and foot traffic. The property currently houses two triple-net tenants, generating a substantial annual net income of $140,000. Leases include a built-in 3% annual escalation clause, providing consistent growth potential. Recent upgrades significantly enhance the property's value and operational efficiency. In 2022, a $45,000 investment upgraded the electrical system to a robust 3-phase 400-amp service, specifically benefiting the on-site restaurant. Further improvements in 2024 included a complete landscaping overhaul costing $26,000, resulting in a visually appealing and well-maintained property. The building itself is in excellent condition. The property offers a compelling 6.59% capitalization rate, making it an attractive investment for discerning buyers. While square footage is estimated from an appraisal, potential buyers are encouraged to conduct their own independent measurement. This turnkey operation provides immediate cash flow and a strong foundation for long-term growth in a thriving retail market. The property's strategic location, strong tenant occupancy, and recent upgrades combine to create a truly exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,363,615

  6.5%

  $1,258,722

  7%

  $1,168,813

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,755,475

  Geo Method

  $1,755,475

• Alternative Use

  Use

  Valuation

  Residential

  $1,061,779

  Hospitality

  $972,584

  Educational

  $809,178

  Medical

  $837,007

  Retail

  $1,258,722

Location Insight

City

Payson

County

Utah

State

Utah

Latitude

40.0306

Longitude

-111.754

CBSA code

39340

CBSA name

PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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